ABS-CBN Corporation and Ayala Land, Inc. announced the signing of the Deeds of Absolute Sale, finalizing the sale of a portion of ABS-CBN’s real property in Quezon City. The transaction, valued at P6.3 billion, VAT-inclusive, was completed after all conditions precedent were met.
The sale covers 30,000 square meters of the total 44,027.30 sqm property. The proceeds from the transaction will be used to partially pay and service ABS-CBN’s outstanding bank loans, in accordance with the Real Estate Mortgage between ABS-CBN and its lenders. The payment will be made on an installment basis over a period of 10 years, with the down payment already released to the Security Agent on behalf of the lenders. The balance of the proceeds has been assigned via a receivables financing facility to further service the company’s loans.
The signing of the Deeds of Absolute Sale was contingent upon several key conditions, including the Philippine Competition Commission’s issuance of a Letter of Non-Coverage from Compulsory Notification and compliance with other terms outlined in the Memorandum of Agreement signed on February 27, 2025.
ABS-CBN will retain ownership of the remaining 14,027.30 sqm of the property and will consolidate its offices, studios, and production facilities within this area.
“This is a strategic move that strengthens our financial position and allows us to focus on our core business,” said a representative from ABS-CBN. “Consolidating our operations will also streamline our activities and help us to continue to deliver high-quality content and services to our audiences.”
